The US midterms moved more than stocks today. Oil dropped about 8% as traders priced a faster end to the Iran war, Treasury yields fell, and Bitcoin climbed back near 80k after an overnight flush on the result.
For crypto I'm watching two things. Rates first, since cheaper oil takes some pressure off more Fed hikes and futures still price about an 80% chance of one in December. Then policy, where the CLARITY Act has until early January to pass in the lame-duck session or it has to start over with a Democratic Congress.
I'm still reading BTC off the quarterly uptrend, which only breaks under ~56.5k. Let's see how the week closes.
For crypto I'm watching two things. Rates first, since cheaper oil takes some pressure off more Fed hikes and futures still price about an 80% chance of one in December. Then policy, where the CLARITY Act has until early January to pass in the lame-duck session or it has to start over with a Democratic Congress.
I'm still reading BTC off the quarterly uptrend, which only breaks under ~56.5k. Let's see how the week closes.